The Russian coal mining company Belon Group (Belon) has announced that in accordance with the resolution of the board of directors of the Bank of Russia dated April 23, 2009 and with the letter of the Central Bank of the Russian Federation No. 60-T dated May 5, 2009, it has been included in the list of companies the liabilities of which may be accepted by the RF Central Bank as bank security in obtaining loans.
Accordingly, the inclusion of Belon in the list in question indicates a reduced risk level for creditors of the group, and indicates an effective government support mechanism backed by the Central Bank of the Russian Federation.
Belon's inclusion is based on the positive evaluation made by the Central Bank of the Russia Federation of the crisis management program being implemented by Belon Group aimed at preserving liquidity and financial stability under conditions of global economic crisis.
In addition, the inclusion of Belon in the list in question is supposed to accelerate, along with other factors, the restructuring of the company's current credit portfolio, and to contribute to the reduction of its debt load in the present times of economic slowdown.